Real Estate Report: Kubla Khan Drops the Price— Xanadu Now $3.5M Less



Sometimes, reducing the price is the key to selling your house. In this case, $3.5M off the top seems to have done trick. With apologies to both Samuel Colerigde and Olivia Newton-John.

The Basics: A five-bedroom, six-bath house on .75 acre in the Brentwood section of Los Angeles, asking $7.7M.

Not So Basic: It’s status actually went to “pending and looking for backup offers” two days after dropping the price from $11.2M. It’s been on the market since mid-January, 2010. Channeling Mexican architect Luis Barragan, the property also has five fireplaces, a guest house and stables and was designed by Marc Whipple of Whipple Russell. Oh, and a pool out in the back:

Barragan designed any number of grand houses, and probably would have been asked to do this one if he was still alive when it was built. The only problem we have with the house is that we don’t live in it.

The living and dining areas, above. The interiors have gotten a little cluttered in the decade or so it’s been occupied. But it’s hard to not buy stuff, and the architect’s site is full of moody, empty images with sunlight streaming in.

We’ll leave you with the facade of the studio building:

More interior and exterior shots at the realtor’s outstanding dedicated site. We wish there were floor plans.

Listing: 1647 Mandeville Canyon Road, Los Angeles [Redfin]